Episodi

  • Copper Posts a Weekly Gain, Gold Rebounds From a Two-Month Low, and Glencore Readies Its ASX Debut

    Copper Posts a Weekly Gain, Gold Rebounds From a Two-Month Low, and Glencore Readies Its ASX Debut
    Oct 10 2026
    Copper Posts a Weekly Gain as Yangshan Premium Hits a Four-Year High: First, copper, which ended the week higher on supply risk and a returning Chinese buyer. Reuters reports London benchmark copper was up 1.6 percent at 14,541 dollars a tonne by 16:04 GMT Friday, on track for a 2.0 percent weekly gain. Bloomberg has the settlement at 14,540 dollars. Gold Rebounds From a Two-Month Low as Yields Retreat: Next, gold, which recovered most of the week's damage on Friday. Reuters, via CNBC, reports spot gold rose 1.6 percent to 4,198 dollars and 99 cents an ounce by 3:13 p.m. Eastern, a one-week high. December U.S. futures settled up 1.43 percent at 4,216 dollars and 30 cents, and closed up 1.3 percent on the week. Spot silver gained 2.7 percent to 60 dollars and 93 cents. Kamoa-Kakula Copper Output Rises 19% but Guidance Stays at the Low End: Meanwhile, in the Democratic Republic of Congo, Ivanhoe Mines reported Kamoa-Kakula produced 76,401 tonnes of copper in saleable products in the third quarter. That is up 19 percent from 64,328 tonnes in the second quarter, according to the company's release as summarized by LME Insight. Glencore Pitches Electrification Ahead of Its October 14 ASX Listing: Next, Glencore, which lists on the Australian Securities Exchange on Wednesday. Chief executive Gary Nagle told Reuters on Friday that interest from investors is "very strong," and said he believes the company could join the S&P/ASX 200 within 12 months, with analysts suggesting half that time. EU Names 46 Strategic Raw Materials Projects Across 16 Countries: Finally, policy in Brussels. The European Commission selected 46 new strategic projects across 16 member states under the Critical Raw Materials Act, from 102 applications, according to Mining Technology. The projects cover 15 of the 17 strategic raw materials in the law. Sources: - Reuters via Mining.com.au — Copper Posts a Weekly Gain as Yangshan Premium Hits a Four-Year High: https://mining.com.au/copper-price-heads-for-a-weekly-gain-on-mine-supply-risks-china-demand/ - Bloomberg — Copper Posts a Weekly Gain as Yangshan Premium Hits a Four-Year High: https://www.bloomberg.com/news/articles/2026-10-09/copper-set-for-weekly-gain-on-china-s-return-and-supply-concerns - Reuters via CNBC — Gold Rebounds From a Two-Month Low as Yields Retreat: https://www.cnbc.com/amp/2026/10/09/gold-rises-on-softer-dollar-easing-yields-fed-outlook-in-focus.html - Ivanhoe Mines (Q3 2026 release) — Kamoa-Kakula Copper Output Rises 19% but Guidance Stays at the Low End: https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-reports-76401-tonnes-of-copper-produced-by-kamoa-kakula-for-q3-2026/ - LME Insight — Kamoa-Kakula Copper Output Rises 19% but Guidance Stays at the Low End: https://www.lmeinsight.com/kamoa-kakula-copper-output-rises-19-as-recovery-continues/ - Reuters — Glencore Pitches Electrification Ahead of Its October 14 ASX Listing: https://www.reuters.com/business/retail-consumer/glencore-sees-electrification-trend-driving-strong-uptake-australia-listing-2026-10-09/ - Global Banking and Finance (Reuters text) — Glencore Pitches Electrification Ahead of Its October 14 ASX Listing: https://www.globalbankingandfinance.com/glencore-sees-electrification-trend-driving-strong-uptake/ - Mining Technology — EU Names 46 Strategic Raw Materials Projects Across 16 Countries: https://www.mining-technology.com/news/ec-46-projects-raw-material-supply/ - LME Insight (KGHM designation) — EU Names 46 Strategic Raw Materials Projects Across 16 Countries: https://www.lmeinsight.com/tag/news/ - Eldorado Gold (Skouries designation) — EU Names 46 Strategic Raw Materials Projects Across 16 Countries: https://www.globenewswire.com/news/industrials-utilities/metals-mining
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    12 min
  • Centinela Output Could Halve in November, Indonesia Weighs a Nickel Smelter Moratorium, and Kazatomprom Picks China

    Centinela Output Could Halve in November, Indonesia Weighs a Nickel Smelter Moratorium, and Kazatomprom Picks China
    Oct 9 2026
    Unions Say Centinela Output Could Halve in November as Copper Premiums Climb: First, copper, where a strike in Chile is meeting a thin market. Reuters reports unions at Antofagasta's Centinela mine said Thursday that the full impact of their strike is expected in November, when production could decrease by half. They say early effects will worsen gradually because a large amount of waste rock has to be removed. The unions say they represent more than half of the mine's critical operators and over 60 percent of its equipment maintenance workers. Antofagasta declined to comment on the estimate and has said it will maintain production guidance. Indonesia Weighs a Moratorium on Semi-Finished Nickel Smelters: Next, nickel, where Indonesia is considering a brake on its own growth. Coordinating Minister for Downstreaming and Energy Transition Bahlil Lahadalia said the government is weighing a moratorium or restrictions on new smelters that produce semi-processed nickel, the Jakarta Post reports. He put nickel supply ahead of demand by about 2.5 million tonnes, and said 50 to 60 percent of Indonesia's smelters still make semi-processed products. MMG Calls EU Concerns Over Anglo American Nickel Deal Unsupported: Meanwhile, in Brussels, MMG defended its 500 million dollar bid for Anglo American's Brazilian nickel business at a day-long hearing on Thursday, Reuters reports. The European Commission opened a full-scale investigation and warned last month that MMG could redirect ferronickel supplies away from Europe, which could hurt the bloc's stainless steel producers. LG Energy Solution Signs 240,000-Tonne Spodumene Deal With Elevra: Next, lithium, where a battery maker is locking in non-Chinese supply. LG Energy Solution said Thursday it signed a multi-year binding offtake agreement with Elevra Lithium for 240,000 dry metric tonnes of spodumene concentrate over four years. The supply comes from Elevra's operating North American Lithium project in Quebec, with deliveries expected to begin later this year. Kazatomprom Shareholders Approve China Uranium Sale, Reject Uranium One Deal: Finally, uranium. Shareholders of Kazatomprom approved a spot-term sale of uranium oxide concentrate to China's State Nuclear Uranium Resource Development Company, known as SNURDC, and did not approve a proposed supply agreement with Russia's Uranium One, according to results reported from the October 7 meeting. SNURDC is a subsidiary of State Power Investment Corporation. Sources: - Reuters via LSE.co.uk — Unions Say Centinela Output Could Halve in November as Copper Premiums Climb: https://www.lse.co.uk/news/strike-could-cut-november-output-at-chiles-centinela-copper-mine-by-half-unions-say-pjian0jxhzg1ffe.html - The Northern Miner — Unions Say Centinela Output Could Halve in November as Copper Premiums Climb: https://www.northernminer.com/news/copper-price-gains-as-chile-strike-threatens-output/1003895558/ - Reuters via Asharq Al-Awsat — Unions Say Centinela Output Could Halve in November as Copper Premiums Climb: https://english.aawsat.com/business/5327654-london-copper-rises-supply-risks-china-buying - The Jakarta Post (smelter moratorium) — Indonesia Weighs a Moratorium on Semi-Finished Nickel Smelters: http://www.thejakartapost.com/business/2026/10/08/indonesia-mulls-nickel-smelter-moratorium-as-global-supply-swells - Antara — Indonesia Weighs a Moratorium on Semi-Finished Nickel Smelters: https://en.antaranews.com/news/434681/indonesia-considers-moratorium-on-semi-finished-processing - The Jakarta Post (Weda Bay launch) — Indonesia Weighs a Moratorium on Semi-Finished Nickel Smelters: https://www.thejakartapost.com/business/2026/10/09/prabowo-launches-10-2b-nickel-downstream-projects-at-weda-bay - Reuters — MMG Calls EU Concerns Over Anglo American Nickel Deal Unsupported: https://www.reuters.com/business/finance/mmg-accuses-eu-antitrust-regulators-ignoring-evidence-backing-anglo-american-2026-10-08/ - LG Energy Solution — LG Energy Solution Signs 240,000-Tonne Spodumene Deal With Elevra: https://news.lgensol.com/company-news/press-releases/5412/ - Elevra Lithium (ASX release) — LG Energy Solution Signs 240,000-Tonne Spodumene Deal With Elevra: https://aapnews.aap.com.au/aapreleases/globenewswire9841837 - Mugglehead — Kazatomprom Shareholders Approve China Uranium Sale, Reject Uranium One Deal: https://mugglehead.com/kazatomprom-china-uranium-sale-vote-uranium-one-proposal/ - Kursiv Media — Kazatomprom Shareholders Approve China Uranium Sale, Reject Uranium One Deal: https://kz.kursiv.media/en/2026-10-08/engk-tank-kazatomprom-rejects-deal-with-russias-uranium-one-approves-contract-with-china/ - SP Angel via Share Talk — Kazatomprom Shareholders Approve China Uranium Sale, Reject Uranium One Deal: https://www.share-talk.com/sp-angel-todays-market-view-thursday-8th-october-2026/
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    12 min
  • Centinela Strike Begins, Gold Hits a Nine-Week Low, and Arafura Breaks Ground on Nolans

    Centinela Strike Begins, Gold Hits a Nine-Week Low, and Arafura Breaks Ground on Nolans
    Oct 8 2026
    Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: First, Chile. A legal strike began at 8 a.m. local time Wednesday at Antofagasta's Centinela copper mine after government mediation ended without a deal. The Rio Times reports 709 workers are out, from two unions: Minera Esperanza with 420 members and Distrito Centinela with 289. Members voted 98.73 percent for a strike in late September. IndexBox, citing the unions, says they represent 22 percent of Centinela's direct workforce. Gold Hits a Nine-Week Low After Fed Minutes Show All 19 Officials Backed the Hike: Next, gold. Investing.com reports gold steadied on Thursday after falling in the previous session to its lowest level since early August, a nine-week low. Spot gold rose 0.6 percent to 4,133 dollars and 60 cents an ounce at 5:04 GMT, and U.S. futures gained 0.4 percent to 4,157 dollars and 45 cents. Silver rose 0.4 percent to 60 dollars and 5 cents, and platinum climbed 2.07 percent to 1,667 dollars and 82 cents. Arafura Breaks Ground on A$1.6 Billion Nolans Rare Earths Project: Meanwhile, in Australia, construction has begun on Arafura Rare Earths' Nolans project, 135 kilometres north of Alice Springs in the Northern Territory. The first sod was turned Thursday, according to the National Tribune. Proactive Investors puts the cost at 1.6 billion Australian dollars and calls Nolans Australia's first fully integrated rare earths mine and processing facility. BHP Sells Kambalda Nickel Concentrator to Gold Fields: Next, nickel, where BHP has made its first sale out of its idled Nickel West division. BHP said Wednesday it has agreed to sell the Kambalda Nickel Concentrator and a package of associated tenements and mineralisation rights in Western Australia to Gold Fields, Reuters reports. No price was disclosed. Laos Moves to Ban All Raw Mineral Exports by 2030: Finally, resource nationalism, now in Southeast Asia. The Lao government plans to ban all raw mineral exports by 2030 so that minerals are processed before leaving the country, The Star reports. Industry and Commerce Minister Malaithong Kommasith set out the plan to the National Assembly on Wednesday. Sources: - The Rio Times — Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: https://www.riotimesonline.com/chile-centinela-copper-strike-begins-709-workers/ - IndexBox — Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: https://www.indexbox.io/blog/copper-prices-recover-as-700-workers-strike-at-antofagastas-centinela-mine-in-chile/ - Shanghai Metals Market (Escondida mediation) — Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: https://news.metal.com/en/newscontent/104144101-bhp-seeks-formal-mediation-at-escondida-temporarily-delaying-strike-at-worlds-largest-copper-mine - Shanghai Metals Market (LME close, Bank of America) — Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: https://news.metal.com/newscontent/104144417-bofa-raises-long-term-copper-price-forecast-tight-supply-supports-prices-smm-copper-morning-meeting-summary - Shanghai Metals Market (inventories) — Centinela Strike Begins With 709 Workers as Escondida Mediation Runs: https://news.metal.com/newscontent/104146374-post-holiday-copper-social-inventory-buildup-yoy-level-remains-low-smm-weekly-data - Investing.com via Yahoo Finance — Gold Hits a Nine-Week Low After Fed Minutes Show All 19 Officials Backed the Hike: https://uk.finance.yahoo.com/news/gold-steadies-nine-week-low-022008844.html - Federal Reserve Board (FOMC minutes release) — Gold Hits a Nine-Week Low After Fed Minutes Show All 19 Officials Backed the Hike: https://www.federalreserve.gov/newsevents/pressreleases/monetary20261007a.htm - Proactive Investors — Arafura Breaks Ground on A$1.6 Billion Nolans Rare Earths Project: https://www.proactiveinvestors.com.au/a/8b0682f8/arafura-rare-earths-starts-construction-of-a-1-6-billion-nolans-project - National Tribune (Northern Territory release) — Arafura Breaks Ground on A$1.6 Billion Nolans Rare Earths Project: https://www.nationaltribune.com.au/ground-breaks-on-largest-mining-investment-in-territory-history/ - Reuters — BHP Sells Kambalda Nickel Concentrator to Gold Fields: https://www.reuters.com/legal/transactional/bhp-sell-kambalda-nickel-concentrator-tenements-gold-fields-2026-10-06/ - Mining Technology — BHP Sells Kambalda Nickel Concentrator to Gold Fields: https://www.mining-technology.com/news/bhp-kambalda-nickel-gold-fields/ - The Star (Malaysia) — Laos Moves to Ban All Raw Mineral Exports by 2030: https://www.thestar.com.my/aseanplus/aseanplus-news/2026/10/08/lao-govt-moves-to-end-raw-mineral-exports-pushes-processing
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    12 min
  • Abu Dhabi's IRH Approaches Kenmare, Perseus Says Few Gold Deals Close, and Belarusian Potash Heads for New Orleans

    Abu Dhabi's IRH Approaches Kenmare, Perseus Says Few Gold Deals Close, and Belarusian Potash Heads for New Orleans
    Oct 7 2026
    Abu Dhabi's IRH Makes a Cash Approach for Kenmare Resources: First, a takeover approach in mineral sands. Kenmare Resources, the Dublin-based miner of titanium minerals, confirmed on Tuesday that it has received a non-binding proposal from International Resources Holdings, known as IRH, for a possible cash offer for all of its issued and to be issued shares. In its statement the board said it "notes recent press speculation and confirms that it has received a non-binding proposal." Perseus Says Gold Dealmaking Is Busy, but Few Deals Close: Next, gold dealmaking, where talk is running ahead of completions. Perseus Mining chief executive Craig Jones told Reuters late Tuesday that sector deal activity is strong but that closing is another matter. In his words, "There's a lot of activity, but not necessarily a lot of completion." UBS Expects BHP and Rio Tinto Volumes Up as Iron Ore Sits Near US$91: Meanwhile, in iron ore, shipments are rising into a weak price. UBS analysts, including Myles Allsop and Lachlan Shaw, say iron ore has fallen to about 91 U.S. dollars a tonne, with free-on-board prices at more than ten-year lows, according to Proactive Investors. First Belarusian Potash Cargo in Four Years Heads for New Orleans: Next, potash, where a single ship is carrying a lot of politics. Investing News reports that a 30,000-tonne cargo of Belarusian potash, the first to the United States in four years, is due at New Orleans on October 14. It left Russia's Bronka port, near St. Petersburg, on September 15. Gold Slips About 1% Ahead of Fed Minutes as the Dollar Firms: Finally, gold, which is lower this morning with the Federal Reserve's September minutes due later today. Reuters, via Asharq Al-Awsat, reports spot gold fell 0.98 percent to 4,122 dollars and 73 cents an ounce by 0905 GMT. December U.S. futures fell 0.91 percent to 4,149 dollars. The dollar index rose 0.4 percent. Silver fell 2.2 percent to 60 dollars and 36 cents, platinum fell 3 percent to 1,650 dollars, and palladium fell 2.7 percent to 1,141 dollars. Sources: - Kenmare Resources plc (Rule 2.4 announcement) — Abu Dhabi's IRH Makes a Cash Approach for Kenmare Resources: https://www.kenmareresources.com/rns/2026-oct-statement-regarding-possible-offer/ - The Irish Times — Abu Dhabi's IRH Makes a Cash Approach for Kenmare Resources: https://www.irishtimes.com/business/2026/10/06/abu-dhabi-mining-firm-runs-rule-over-kenmare-resources/ - Reuters — Perseus Says Gold Dealmaking Is Busy, but Few Deals Close: https://www.reuters.com/world/africa/perseus-says-gold-ma-activity-high-deals-hard-close-over-price-uncertainty-2026-10-07/ - Discovery Alert — Perseus Says Gold Dealmaking Is Busy, but Few Deals Close: https://discoveryalert.com/news/gold-ma-northern-star-gold-fields-bid-october-2026/ - Proactive Investors (UBS research) — UBS Expects BHP and Rio Tinto Volumes Up as Iron Ore Sits Near US$91: https://www.proactiveinvestors.com/companies/news/1099662/ubs-sees-bhp-and-rio-tinto-leading-iron-ore-quarter-as-prices-hit-more-than-10-year-lows-1099662.html - IG — UBS Expects BHP and Rio Tinto Volumes Up as Iron Ore Sits Near US$91: https://www.ig.com/uk/news-and-trade-ideas/uk-miners-trading-update--rio-tinto--antofagasta-and-peers-navig-261006 - Reuters (Glencore ASX listing date) — UBS Expects BHP and Rio Tinto Volumes Up as Iron Ore Sits Near US$91: https://www.reuters.com/company/rio-tinto-plc/ - Shanghai Metals Market — UBS Expects BHP and Rio Tinto Volumes Up as Iron Ore Sits Near US$91: https://news.metal.com/en/newscontent/104144101-bhp-seeks-formal-mediation-at-escondida-temporarily-delaying-strike-at-worlds-largest-copper-mine - Investing News Network — First Belarusian Potash Cargo in Four Years Heads for New Orleans: https://investingnews.com/us-recieves-potash-from-belarus/ - Reuters via Asharq Al-Awsat — Gold Slips About 1% Ahead of Fed Minutes as the Dollar Firms: https://english.aawsat.com/business/5326933-gold-down-1-dollar-gains-fed-minutes-focus - Mining.com via GhanaWeb — Gold Slips About 1% Ahead of Fed Minutes as the Dollar Firms: https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Top-50-miners-lose-264-billion-as-gold-rally-fades-2055373
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    12 min
  • BHP Pauses Escondida Strike With Mediation, Top 50 Miners Lose US$264 Billion, and Greenland Approves Tanbreez Plan

    BHP Pauses Escondida Strike With Mediation, Top 50 Miners Lose US$264 Billion, and Greenland Approves Tanbreez Plan
    Oct 6 2026
    BHP Asks Chile to Mediate, Pausing an Escondida Strike That Could Have Started Today: First, Chile, where the strike clock at the world's largest copper mine has been reset. The Rio Times reports the supervisors' union at Escondida, Sindicato Number Two, said a strike would take effect today, October 6. On Monday, BHP asked Chile's labour inspectorate to mediate, which suspends the approved strike while talks proceed. September Wipes US$264 Billion Off the World's Top 50 Miners as Gold Slides: Next, the scoreboard. A mining.com ranking reports the world's 50 most valuable mining stocks lost 264 billion dollars in September, the second-largest monthly decline since the series began at the end of 2019, leaving the group worth 2.26 trillion dollars. Only March was worse, at 434 billion. September erased three quarters of August's record 357 billion dollar advance. Court Clears Partial Restart of Vale's Fábrica Mine: Meanwhile, in Brazil, a court has approved a partial restart of Vale's Fábrica iron ore mine in Ouro Preto, Minas Gerais, according to the Rio Times. The ruling removes a legal obstacle, though the report gives no production tonnage, restart date or ramp-up schedule. Greenland Approves Tanbreez Mining Plan, but Construction Is Not Yet Cleared: Next, Greenland. Critical Metals announced Monday that the Government of Greenland formally approved the mining plan and closure plan for its Tanbreez project in southern Greenland. Minister Múte B. Egede signed the approvals in Nuuk on September 29. They run until September 8, 2050, about 24 years of permitted operations under the existing 2020 exploitation licence. Lithium, Cobalt and Nickel Lead a Broad Slide in Battery Metals: Finally, battery metals, where the price tape is red. Critical Minerals News, citing Shanghai Metals Market and London Metal Exchange data, reports that of 30 metals it tracks, 19 fell and 11 rose against September. Sources: - The Rio Times — BHP Asks Chile to Mediate, Pausing an Escondida Strike That Could Have Started Today: https://www.riotimesonline.com/chile-escondida-strike-2026/ - Investing.com — BHP Asks Chile to Mediate, Pausing an Escondida Strike That Could Have Started Today: https://www.investing.com/commodities/copper-historical-data - Mining.com via GhanaWeb — September Wipes US$264 Billion Off the World's Top 50 Miners as Gold Slides: https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Top-50-miners-lose-264-billion-as-gold-rally-fades-2055373 - The Rio Times — Court Clears Partial Restart of Vale's Fábrica Mine: https://www.riotimesonline.com/iron-ore-markets-latam-monday-october-5-2026/ - Investing.com via Yahoo Finance — Court Clears Partial Restart of Vale's Fábrica Mine: https://finance.yahoo.com/markets/world-indices/articles/u-shares-brazilian-companies-rally-083813487.html - Mining.com.au — Court Clears Partial Restart of Vale's Fábrica Mine: https://mining.com.au/iron-ore-prices-dip-to-lowest-level-in-past-year/ - Critical Metals Corp. — Greenland Approves Tanbreez Mining Plan, but Construction Is Not Yet Cleared: https://finance.yahoo.com/energy/articles/critical-metals-corp-nasdaq-crml-123000076.html - Investing.com via Yahoo Finance — Greenland Approves Tanbreez Mining Plan, but Construction Is Not Yet Cleared: https://finance.yahoo.com/markets/stocks/articles/critical-metals-stock-surges-13-130856781.html - Critical Minerals News (SMM and LME data) — Lithium, Cobalt and Nickel Lead a Broad Slide in Battery Metals: https://critical-minerals-news.com/critical-minerals-market-october-2026/ - Trading Economics — Lithium, Cobalt and Nickel Lead a Broad Slide in Battery Metals: https://tradingeconomics.com/commodity/nickel
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    13 min
  • Brazil Heads to a Runoff and Vale Jumps, Chile Copper Strike Clock Starts, and Vedanta Plans US$2.3 Billion Push

    Brazil Heads to a Runoff and Vale Jumps, Chile Copper Strike Clock Starts, and Vedanta Plans US$2.3 Billion Push
    Oct 5 2026
    Brazil Heads to an October 25 Runoff, and Vale Jumps: First, Brazil, where yesterday's vote did not settle anything, but it moved markets. With 99.99% of sections counted, the Superior Electoral Court has Senator Flávio Bolsonaro at 47.03%, or 56.10 million votes, and President Lula da Silva at 45.16%, or 53.88 million. Neither passed 50%, so the two meet in a runoff on October 25. Polls had expected Lula to finish first. Escondida and Centinela Enter the Mediation Window as China Returns Thursday: Next, Chile, where two of the biggest copper mines in the world are inside a legal countdown. At Escondida, BHP's flagship, about 1,020 supervisors in Sindicato Number Two rejected the company's final offer, and 95% voted to authorise a strike, according to Shanghai Metals Market. The union objects to limited pay improvements, multi-tasking requirements and a proposed 14 by 14 shift rotation. Chilean law requires at least five days of government mediation before a legal walkout, and that can be extended by five more. Vedanta Plans US$2.3 Billion Copper Push and Eyes a Tuticorin Restart: Meanwhile, in India, Vedanta Copper has laid out plans to invest about 2.3 billion dollars over the next three to four years to lift output beyond 1 million tonnes a year by 2030, according to The Economic Times. Roughly 2 billion dollars is earmarked for Saudi Arabia, covering mining, smelting and copper rod production. Rare Earths Left Off the US-China Tariff Lists as Heavy Supply Stays Tight: Next, rare earths. A report published Sunday by InvestorNews argues that last month's summit between President Trump and Xi Jinping left the West still buying its way to supply. Xi left Washington on September 25 after a three-day state visit. The White House fact sheet said the two countries would "continue to work on U.S. concerns regarding supply chain shortages related to rare earths and other critical minerals," with the aim of returning shipments to "appropriate levels." Gold Fields Eyes a Sweeter Offer as Northern Star's New CEO Starts: Finally, gold deal-making. Northern Star's incoming chief executive, Suresh Vadnagra, is due to take office today, according to Mining Digital, just as the company fends off Gold Fields. Northern Star rejected Gold Fields' unsolicited proposal, valued at A$38.7 billion, as undervalued, and called the timing "opportunistic and unsolicited." Gold Fields says combining would create the world's second-biggest gold miner. Sources: - Investing.com via Yahoo Finance — Brazil Heads to an October 25 Runoff, and Vale Jumps: https://finance.yahoo.com/markets/world-indices/articles/u-shares-brazilian-companies-rally-083813487.html - The Rio Times — Brazil Heads to an October 25 Runoff, and Vale Jumps: https://www.riotimesonline.com/brazil-election-markets-real-ibovespa-adrs-2026/ - The Northern Miner — Brazil Heads to an October 25 Runoff, and Vale Jumps: https://www.northernminer.com/news/brazil-mine-licence-system-faces-court-test/1003895404/ - Shanghai Metals Market — Escondida and Centinela Enter the Mediation Window as China Returns Thursday: https://news.metal.com/newscontent/104143111-escondida-supervisors-vote-95-to-authorise-strike-talks-enter-mandatory-mediation - Fastmarkets — Escondida and Centinela Enter the Mediation Window as China Returns Thursday: https://www.fastmarkets.com/insights/unions-at-escondida-centinela-philexs-padcal-copper-mines-vote-for-strike-action/ - Reuters — Escondida and Centinela Enter the Mediation Window as China Returns Thursday: https://www.reuters.com/world/americas/fatal-accident-radomiro-tomic-mine-codelco-partially-suspends-operations-2026-10-01/ - Databoks — Escondida and Centinela Enter the Mediation Window as China Returns Thursday: https://databoks.katadata.co.id/en/market/statistics/fb73cc493c80e11/copper-price-rises-for-three-consecutive-days - The Economic Times — Vedanta Plans US$2.3 Billion Copper Push and Eyes a Tuticorin Restart: https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/vedanta-copper-plans-2-3-billion-capex-tamil-nadu-smelter-restart-back-on-agenda/articleshow/134626840.cms - Shanghai Metals Market — Vedanta Plans US$2.3 Billion Copper Push and Eyes a Tuticorin Restart: https://news.metal.com/newscontent/104143357-vedanta-plans-23-billion-copper-expansion-as-restart-of-400000-tonne-tuticorin-smelter-returns-to-agenda - InvestorNews — Rare Earths Left Off the US-China Tariff Lists as Heavy Supply Stays Tight: https://investornews.com/critical-minerals-rare-earths/technology-metals-report-10-04-2026-a-summit-without-a-rare-earth-deal-leaves-the-west-buying-its-way-to-supply/ - Reuters — Gold Fields Eyes a Sweeter Offer as Northern Star's New CEO Starts: https://www.reuters.com/legal/transactional/gold-fields-aims-woo-northern-star-investors-after-miners-rebuff-2026-09-30/ - Mining Digital — Gold Fields Eyes a Sweeter Offer as Northern Star's New CEO Starts: https://miningdigital.com/news/...
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    11 min
  • Freeport's Grasberg Hits 67%, Brazil Votes With Mining Licences in Court, and De Beers Takes Gahcho Kué

    Freeport's Grasberg Hits 67%, Brazil Votes With Mining Licences in Court, and De Beers Takes Gahcho Kué
    Oct 4 2026
    Freeport Says Grasberg Mill Is at 67% as the Block Cave Ramp-Up Holds: First, Indonesia. Freeport-McMoRan's third-quarter operating update, released Friday, says the Grasberg district mill averaged about 140,000 tonnes of ore per day in the quarter. That is roughly 67% of normal rates before the September 2025 mud rush that killed seven workers, according to The Northern Miner. The Block Cave underground mine contributed about 70,000 tonnes a day of that. Brazil Votes Today With Its Mine Licensing Overhaul Still Before the Supreme Court: Next, Brazil, where voters go to the polls today to choose a president, governors, senators and lawmakers. A runoff is set for October 25 if needed. For miners, the election sits on top of an unresolved legal question. De Beers Takes Full Ownership of Gahcho Kué as Mountain Province Restructures: Meanwhile, in diamonds, Mountain Province Diamonds has agreed to hand its 49% stake in the Gahcho Kué mine in the Northwest Territories to De Beers, which will become sole owner. The company announced the restructuring agreement on October 1. Europe's Aluminium Premium Jumps on Canadian Tariff Talk: Back in the metals markets, aluminium, where the physical market is pulling in opposite directions. Reuters reports the European duty-paid premium rose 10% on Thursday to 574 dollars a tonne, its highest since June 8. That is paid on top of the London Metal Exchange price. Troilus Secures US$850 Million in Credit-Approved Debt Commitments: Finally, Quebec. Troilus Mining announced on September 28 that KfW IPEX-Bank and Société Générale have provided credit-approved commitments for 850 million US dollars of senior secured debt for the Troilus gold-copper project. The company is targeting a total package of 1.1 billion dollars, which includes a proposed 250 million dollars from Export Development Canada, still subject to final approvals. Sources: - Freeport-McMoRan — Freeport Says Grasberg Mill Is at 67% as the Block Cave Ramp-Up Holds: https://investors.fcx.com/investors/news-releases/news-release-details/2026/Freeport-Provides-Third-Quarter-2026-Operational-Update/default.aspx - The Northern Miner — Freeport Says Grasberg Mill Is at 67% as the Block Cave Ramp-Up Holds: https://www.mining.com/freeports-grasberg-copper-mill-reaches-67-after-mudslide/ - The Northern Miner — Brazil Votes Today With Its Mine Licensing Overhaul Still Before the Supreme Court: https://www.northernminer.com/news/brazil-mine-licence-system-faces-court-test/1003895404/ - G1 Globo — Brazil Votes Today With Its Mine Licensing Overhaul Still Before the Supreme Court: https://g1.globo.com/politica/eleicoes/2026/noticia/2026/10/03/para-quais-cargos-serao-as-eleicoes-de-2026-entenda-o-que-os-eleitores-vao-escolher-nas-urnas.ghtml - Mountain Province Diamonds — De Beers Takes Full Ownership of Gahcho Kué as Mountain Province Restructures: https://www.prnewswire.com/news-releases/mountain-province-diamonds-inc-announces-comprehensive-restructuring-agreement-to-strengthen-its-financial-position-302895651.html - Mining.com — De Beers Takes Full Ownership of Gahcho Kué as Mountain Province Restructures: https://www.mining.com/mountain-province-gives-de-beers-49-gahcho-kue-stake/ - Reuters via Kitco — Europe's Aluminium Premium Jumps on Canadian Tariff Talk: http://www.kitco.com/news/off-the-wire/2026-10-02/european-aluminum-premium-hits-highest-june-supply-concerns - Troilus Mining — Troilus Secures US$850 Million in Credit-Approved Debt Commitments: https://www.globenewswire.com/news-release/2026/09/28/3369746/0/en/troilus-receives-us-850-million-credit-approved-debt-commitment-letter-for-the-troilus-gold-copper-project.html
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    12 min
  • China Eyes Anglo Teck Copper Guarantees, Glencore Wins Argentina Approval, and Ghana Targets Gold Terms

    China Eyes Anglo Teck Copper Guarantees, Glencore Wins Argentina Approval, and Ghana Targets Gold Terms
    Oct 3 2026
    China Wants Copper Supply Guarantees Before Clearing Anglo Teck: First, the Anglo Teck merger, and the last regulator standing. Reuters reports, citing three people aware of the discussions, that China's State Administration for Market Regulation has asked Anglo American to commit to a steady flow of copper concentrate into China as a condition of approving its proposed 54 billion dollar merger with Teck Resources. The assurances would cover volumes sold through traders as well. Glencore Wins RIGI Approval for Its US$4 Billion MARA Copper Project: Next, Argentina. Glencore has received approval under the country's Incentive Regime for Large Investments, known as RIGI, for its Agua Rica copper project, in Catamarca province, which Glencore develops together with the Alumbrera plant as the MARA project. The Northern Miner puts the project at 4 billion dollars. RIGI is designed to give large projects long-term tax, customs and foreign-exchange stability. Ghana's Draft Mining Bill Would Add a Special State Share and Shorter Leases: Meanwhile, in West Africa, Ghana has put a draft Minerals and Mining Bill on the table that could reshape terms for the gold industry. Reuters, as summarised by SP Angel, reports the bill would let the mines minister require a free special state share with veto rights over lease transfers, liquidations and disposals of linked overseas assets. Copper and Iron Ore Slide as China Sits Out Golden Week: Now to the base metals. Copper is finishing the week lower. Bloomberg reported that London Metal Exchange copper was headed for its biggest weekly decline since May, SP Angel has copper at 14,244 dollars a tonne, down from 14,528 the session before, and notes that high energy costs and a slowdown in Chinese industry threaten demand. Gold Slides 3% on the Week Despite a Weak Jobs Report: Finally, gold. The metal opened the week at 4,277.90 dollars an ounce, hit a high of 4,280.56 on Monday, then fell to a weekly low of 4,110.95 on Thursday, according to Kitco. On Friday the U.S. economy added just 29,000 jobs against a forecast of 90,000, the unemployment rate rose to 4.2%, and July and August payrolls were revised lower. That cut October Federal Reserve hike odds and pushed yields and the dollar down, but gold could not hold above 4,200 and slid back. At the time of Kitco's report spot was 4,140.52, down 3.09% on the week. Sources: - Reuters via BNN Bloomberg — China Wants Copper Supply Guarantees Before Clearing Anglo Teck: https://www.bnnbloomberg.ca/investing/commodities/2026/10/02/china-demands-copper-supply-commitments-for-anglo-teck-merger-approval-reuters-sources-say/ - Mining.com.au — China Wants Copper Supply Guarantees Before Clearing Anglo Teck: https://mining.com.au/china-seeks-copper-guarantees-for-anglo-teck-merger-report/ - Glencore — Glencore Wins RIGI Approval for Its US$4 Billion MARA Copper Project: https://www.glencore.com/media-and-insights/news/glencore-receives-rigi-approval-for-agua-rica--mara - The Northern Miner — Glencore Wins RIGI Approval for Its US$4 Billion MARA Copper Project: https://www.northernminer.com/news/glencore-gets-rigi-nod-for-4b-argentina-copper-project/1003895400/ - BNamericas — Glencore Wins RIGI Approval for Its US$4 Billion MARA Copper Project: https://www.bnamericas.com/en/features/argentina-adds-glencores-mara-copper-project-to-the-rigi-for-us4bn - SP Angel (citing Reuters) — Ghana's Draft Mining Bill Would Add a Special State Share and Shorter Leases: https://www.share-talk.com/sp-angel-todays-market-view-friday-2nd-october-2026/ - SP Angel (citing Bloomberg) — Copper and Iron Ore Slide as China Sits Out Golden Week: https://www.share-talk.com/sp-angel-todays-market-view-friday-2nd-october-2026/ - Mining.com.au — Copper and Iron Ore Slide as China Sits Out Golden Week: https://mining.com.au/iron-ore-prices-dip-to-lowest-level-in-past-year/ - The Rio Times — Copper and Iron Ore Slide as China Sits Out Golden Week: https://www.riotimesonline.com/copper-markets-latam-saturday-october-3-2026/ - Kitco News — Gold Slides 3% on the Week Despite a Weak Jobs Report: https://www.kitco.com/news/article/2026-10-02/wall-street-brink-bearish-majority-after-golds-post-payrolls-slide-main
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    13 min